Geo Energy Resources Ltd. · SGX:RE4
Geo Energy Resources — FY2022 Earnings Presentation
12 slides from Geo Energy Resources's earnings presentation, Mar 7, 2023
Slide 1: 2022 Results Briefing
2022 RESULTS BRIEFING 7 March 2023 GEO ENERGY RESOURCES
Slide 2: Forward Looking Statements
Forward Looking Statements This announcement contains statements that are, or may be deemed to be, “forward looking statements” which are prospective in nature. These forward looking statements may generally be identified by the use of forward looking terminology, or the negative thereof such as "pl
Slide 3: 2022 Financial Performance
2022 Financial Performance Revenue, EBITDA, and net profit for the year at US$733.5 million, US$284.4 million, and US$163.6 million respectively 3 © G E O E N E R G Y R E S O U R C E S
Slide 4: 2022 Financial Highlights
2022 Financial Highlights 14% 28% 4% Record revenue Average selling Record gross of US$733.5M price (“ASP”) of profit of Up 14% from 2021, in US$72.14 per US$272.1M spite of lower sales volumes at 10.2MT tonne Up 4% from 2021. (2021: 11.4MT). Up 28% from 2021, as Gross profit margin of average ICI4
Slide 5: 2022 Financial Highlights
2022 Financial Highlights 5% Record EBITDA of Net profit of US$284.4M US$163.6M 9% Up 5% from 2021. Down 9% from 2021. Net profit for the year is after: • Withholding taxes of US$15.3M (2021: US$1.6M) • Loss allowance of US$15.2M (2021: US$6.5M) M: Million 5 © G E O E N E R G Y R E S O U R C E S
Slide 6: 2022 Financial Highlights: EBITDA allocation
EBITDA allocation US$M EBITDA 284.4 2022 Financial Highlights Dividends paid 101.7 Income taxes paid 83.5 23% Withholding taxes on 15.3 Cash and bank dividends from subsidiaries balances of Repurchase of shares 2.8 US$234.1M Changes in working capital 20.2 Up 23% from 2021. Others 17.4 Net increase
Slide 7: Revenue by geographical location
Revenue by geographical location China: 55% South Korea: 7% Coal produced by the Group Thailand: 1% are sold to various geographical markets. Philippines: 3% The Group does not face significant volume or counterparty risk as export Indonesia: 20% sales are made to offtakers. India: 14% 7 © G E O E N
Slide 8: Going Forward
Going Forward • The RKAB production quota for 2023 has been approved at 8 million tonnes for SDJ and TBR coal mines and we will consider applying for an increase in RKAB to 10 million tonnes, if the coal market remains strong and weather conditions permit. • Strong cash balance of USD234 million and
Slide 9: Share Performance
Share Performance 9 © G E O E N E R G Y R E S O U R C E S
Slide 10: Geo Energy shares are undervalued - trading at less than 1x EV/EBITDA
Geo Energy shares are undervalued - trading at less than 1x EV/EBITDA Geo Energy shares are undervalued given: • US$234 million of cash as at 31 December 2022; • EBITDA of US$284 million as at 31 December 2022; and • net profit of US$164 million as at 31 December 2022. The Group’s Enterprise Value (
Slide 11: Share Performance & Dividends
Share Performance & Dividends 0.320 SGD 3 March 2023 2021 24-months highest: S$ 0.575 Total Dividend S$ 0.09 24-months lowest: S$ 0.169 Payout ratio 51.5% Q4’21 Dividend Yield 26.9%* S$0.05 Q3’21 S$0.03 Q1’22 S$0.02 Q2’22 S$0.02 2022 Q4’20 Q3’22 S$0.01 Total Dividend S$ 0.09** Payout ratio 57.0% S$0
Slide 12: Thank You
Thank You For more information, please visit www.geocoal.com 12 © G E O E N E R G Y R E S O U R C E S